Aircraft maintenance, repair and overhauling services, commonly known as aircraft MRO services, are essential components of the aviation industry, ensuring airworthiness, safety and compliance with regulatory standards.
The aircraft maintenance, repair and overhauling services market consists of sales, by entities (organizations, sole traders or partnerships), of aircraft maintenance, repair and overhauling services that involve the detailed process of maintaining, repairing, overhauling, inspecting and modifying aircraft to keep them safe and operational. The users of these services range from commercial airlines, cargo carriers and private jet operators to military and government agencies. These services are utilized throughout an aircraft's operational lifecycle, from routine checks to major overhauls, typically at dedicated MRO facilities or at airports equipped with maintenance hangars.
The global aircraft maintenance, repair and overhauling services market was valued at $67,284.3 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Strong Economic Growth In Emerging Markets
During the historic period, the aircraft maintenance, repair and overhauling services market was driven by strong economic growth in emerging markets. Emerging market growth was aided by rising disposable income, stable political environments and increasing foreign investments in the countries. As economies flourish, there's a notable surge in air travel demand among individuals and businesses. This heightened demand directly translates into increased aircraft utilization rates, necessitating frequent maintenance, repair and overhaul activities to ensure fleet safety and operational efficiency. For instance, according to the World Bank, a US-based international financial institution, China's gross domestic product (GDP) grew to $17.94 trillion (120 trillion yuan) in 2022 compared to $17.82 in 2021 and $11.06 trillion in 2015. Additionally, according to the Minister for Finance and Corporate Affairs, India's gross domestic product (GDP) grew by between 8% and 8.5% and 9.2% in 2021-2022. Therefore, strong economic growth in emerging markets contributed to the growth of the aircraft maintenance, repair and overhauling services market.
Launch Of Collaborative MRO Solutions To Improve Efficiencies
Companies in the aircraft maintenance, repair and overhauling services market are focusing on developing collaborative MRO solutions to improve efficiencies. For example, in March 2024, QOCO Systems, a Finland-based aviation software solutions provider, launched MROTools.io - Assignment. The assignment is a collaborative solution designed for maintenance planning, combining HR, maintenance and flight ops systems into a single interface. Automating tasks and minimizing manual intervention enhances reliability and fairness in staff assignments. Additionally, it accelerates decision-making, enabling quick responses to staff availability and operations changes. This efficiency helps airlines increase fleet availability, reduce delays and improve cost-effectiveness, addressing significant issues like flight delays caused by late arrivals and carrier-related issues.
The global aircraft maintenance, repair and overhauling services market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 20.3% of the total market in 2022.
Aircraft Maintenance, Repair And Overhauling Services Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global aircraft maintenance, repair and overhauling services market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for aircraft maintenance, repair and overhauling services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The aircraft maintenance, repair and overhauling services market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider aircraft maintenance, repair and overhauling services market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by aircraft division, by size and by service type.
- Product Analysis -The product analysis section of the report describes the leading products in the aircraft maintenance, repair and overhauling services market, along with key features and differentiators for those products.
- Supply Chain- The supply chain section of the report defines and explains the key players in the aircraft maintenance, repair and overhauling services industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global aircraft maintenance, repair and overhauling services market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the aircraft maintenance, repair and overhauling services market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by aircraft division, by size and by service type in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for aircraft maintenance, repair and overhauling services providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Commercial Aircraft MRO Services; Commercial Helicopters MRO Services; Commercial Gliders; Drones MRO Services; Aircraft Turbines MRO Services; Aircraft Engines MRO Services; Rocket Engines MRO Services
- 2) By Aircraft Division: Engine; Cabin Interior; Airframe; Avionics; Others
- 3) By Size: Narrow-Body; Wide-Body; Regional; Others
- 4) By Service Type: Engine Overhaul; Airframe Maintenance; Component; Line; Modification
- Companies Mentioned: Delta Air Lines Inc.; Raytheon Technologies Corporation; Air France KLM; Safran Aero systems; Lockheed Martin Corporation
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands;Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; aircraft maintenance, repair and overhauling services indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.